|Accton Announced its 2008 Third Quarter Finance Statement. The EBIT of the First 3 Quarters reaches NTD 440 Million|
Accton Technology announced today (30) the first 3Q finance statement, audited by accountants, that the total net amount of sales revenue from January to September reached NTD 11.567 billion. Gross Profit and Operating Income separately amounted to NTD 1.451 billion and NTD 0.183 billion. Together with the non-operating income and gains NTD 0.257 billion, the EBIT of the first 3Q has reached NTD 0.44 billion. Furthermore, Accton also will repurchase 54,000,000 shares of treasury stock, following the decision of the board director meeting. It was anticipated the re-purchased stock shares would number to 9.92% of current capital stock.
Accton revealed that under severe control over various costs and expenditures in Q3, the operating expense will keep on decreasing. Also, with increasing gross profit, the operational profit of Accton will significantly increase from NTD 65 million in the first half to NTD 118 million. Because of NTD depreciation and profits from most subsidiaries, the non-operation incomes in Q3 also reached NTD 121 million. Therefore, the single season net profit before tax in Q3 reached NTD 239 million. Compared with NTD 68 million in Q1 and NTD 133 million in Q2, the profit actually increased stably quarter by quarter.
In response to global finance storm and economic recession, Accton will continue its streamline plans to enhance business management physique. Accton will also focus on improving competence and profit making capabilities of its core business units. Also, new technologies will be introduced and new business management models will be operated to aggressively accelerate the transformation in business management. It is expected that the efficiencies of various operation activities can be improved at its soonest possibilities to create the maximum performance in business management.
Accton's first 3Q sales revenue breakdown by products: switches 76%, hubs and network cards 1%, wireless LAN 13%, broadband and gateway product series 5% and others 5%.